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Australian Media Throws Up All Over 'Stellar' Jobs Report: "Don't Believe The Jobs Figures!"
Last week, when the Bureau of Labor Statistics reported a blow out number (which as we showed extensively left much to be desired for anyone who dug even briefly below the surface), the US media, like an obedient dog, lapped it all up without as much as a peep questioning the credibility of this number.
Fast forward to last night, when in the second "stellar" jobs report in one week, we learned that instead of creating a mere 15,000 jobs as consensus expected, Australia added a whopping 58,600 jobs in October - the biggest monthly jump since 2012 - the vast majority of which were full-time.
Considering the implosion in the Chinese commodity sector, we were rather skeptical of this report: after all where is this economic demand for labor coming from if Australia's biggest trading partner is hunkering down at a pace last seen during the financial crisis.
We thought that just like in the case of US payrolls, our skepticism of Australia's "stellar" jobs report would not be echoed anywhere else.
How wrong we were, because overnight we were stunned to learn that unlike the US, Australia actually still has a fourth estate that not only reports data, but also dares to question it.
Here is what Australia's original media outlet, ABC, said in a report titled simply "don't believe the jobs figure for October":
A fall in the unemployment rate from 6.2 per cent to 5.9 per cent in the space of one month?
Be sceptical. Treat with extreme caution.
Nearly 60,000 jobs created in Australia last month? A fall in the jobless rate in Victoria of 0.7 percentage points? Predictably, the numbers moved markets.
Yet the seasonally adjusted labour force estimates from the Australian Bureau of Statistics for October sound incredible and they should be treated as just that: not credible.
The Western Australian's economics editor Shane Wright captured the tone nicely when he tweeted: "The ABS chocolate wheel has landed on 5.9 from 6.2."
Don't believe politicians as they gloat and claim credit. Don't believe the wire services when they report the estimates as fact.
There were 44,640 minutes in October and, if you accept the estimate, 58,600 jobs were created.
As the Age's economics editor Peter Martin points out, count only normal business hours, and that equates to 5.5 workers being hired each minute of the working day.
Even the economist known as "Mr Sunshine", Craig James of Commsec, is not buying it.
"It's hard to believe that almost 60,000 jobs were created in one month with 40,000 of these jobs in full-time positions," was his response.
The slamming of the economic propaganda continues:
The ABS is itself cautions against placing too much credence on the monthly figures, which are based on a changing sample, particularly the seasonally adjusted data. The statistician encourages people to focus on the trend estimate (which had the unemployment rate unchanged).
And, after a series of stuff ups, revisions and methodological changes over the past year, there is even more room for caution.
Last year, the ABS was forced to abandon seasonally adjusted labour force numbers for a period after conceding they were unreliable. The former chief statistician recently said the data was not worth the paper it was written on.
Wait, what: confidence boosting data is unreliable? Surely you jest.
And here is the ABC's conclusion confirming at least one "developed" country still have a thinking media: "don't be surprised if the October labour market data is revised."
If only we could say the same about propaganda rags in the United States...
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The media in the land of the free, however, is completely captured. They will only repeat the lies of the US BLS.
Yes, unemployment is officially only 5% in the land of the free while Shadowstats says it is 23%.
Choreography once again on a grand scale...all of the "West's" slaves are now propagandizing the "recovery" meme in advance of rates going UP in US, UK, Austr...
Can we import some Aussie journalists? I'm throwing some shrimp on the barbie!
Situation serious = having to lie.
The disturbing thing is that they are no different than most government administrations and agencies on the planet.
In essence they are akin to certain unscrupulous, smelly, greasy car mechanics that have your car in their possession and you by the balls.
It is well past time that we take this approach to them:
https://www.youtube.com/watch?v=qBR0oNp9A7c
Hold on to your lug nuts.. it’s time for an overhaul.
The current control of government in Australia is RIGHT leaning (even though it is called the Liberal Party).
That is WHY the so-called journalists are challenging the numbers. They are left leaning just like the US.
NO WAY would they disparage the economic numbers of a Labour government.
Hey, if Russian Televison (RT) is here, why not Australian media? We could use some truth tellers and real economics reporting would be as good a place to start as any.
It is. For example smh.com.au. Hate to burst your bubble, but it's junk on anything that matters. It does show why Aussies are such morons on the internations stage, though.
That, by the way, was once a very fine newspaper. Now it compares to People magazine.
When numbers on a screen are all that stands between the elites and a collapse of their power, the numbers will be changed.
The only number I sees changing are on the teevee when I flip from Dancing with the Stars to Survivor.
I hope that they don't drive engine ejecting Mercedes. They may want to consider another mode of transportation.
What pisses me off, aside from the blatant lying, is the effect this has on the man or woman who has recently lost a job, and is either seeking or cannot find a new one.
Picture sitting in front of your TV or reading the paper - emotionally, you are a bit banged up from recent events but feeling OK and looking to find a new career, continue your career with a new employer, or an overall new start. You know, as do your ex-colleagues and those who were laid off with you, perhaps some of your neighbors or mates, perhaps some family members, the job market is tough. Getting back into it will be a slog, but you are feeling up to it.
Now, imagine some shit-eating grin "reporter" on your TV screen, or smiling face staring at you from an article in the paper, pitching this bullshit about "massive job growth", a "huge decrease in unemployment", roses and sunshine for all in the jobs market, increasing wages etc.
All of a sudden, the view of the world you have based on recent experience and confirmation by others you know (which has provided you a level of comfort because you don't feel "alone" in all of this), has been shot to pieces by the words in a paper or a voice on the screen. You start to question your view of the world, envisioning one where now, it is just YOU who has this problem. You question your worth. Your view is now confused, distorted, frustratingly so because the "map" you were just given no longer matches the "territory" you are standing on.
This is a real problem, and the powers that be with their mind games and "confidence" shenanigans are litterally isolating and crushing people with this rhetoric. More and more, I am glad I read Orwell and Huxley and all others who warned us of this shit many decades ago.
For those of you who understand this and have seen people go through these emotional extremes, don't forget to lend them a hand, help them up, and show them that they are not alone in the world. It is important.
Offhand, I'd say that if emotions are your greatest concern, we aren't doing too badly. When you don't know where your kids' next meal is coming from, then you may find that emotions aren't as important as you thought.
The word "emotions" does not belong in a man's vocabulary. Chicks and metros, sure. Men, no. Purge it.
You can purge the word, but you can't purge the feeling. When "something" under the surface feels "wrong" then it needs to be dealt with. Feelings are just the first domino in a chain that can lead many to a very, very bad place.
There is a chain of events at play here, not a singularity.
Wow! really shows one the difference how much our media is controlled by the black house. No one would dare here.
How cute. You still think the Prezy is in charge. The US government doesn't make a move unless the Iron Bank approves of it. Same for all the corporations. They all owe unpayable debts. That makes them owned.
hopefully the aussies will rise up and crush the zio liars
Not a fucking chance. They are more in thrall to the zios than even the US.
Ah, didn't Murdoch pass the message down to the Aussie press to report the news "properly"? Come on guys, play the game already.
The official statistics offices in western nations recently added one simple line of code at the end of their employment statistics computing program.
job_gains = abs(job_gains);
Simple adjustment.
Now, the more jobs lost each month, the better the economy appears!
Now they can re-elect all the incumbents for doing such a great job.
ROFL! That's funny!
Perhaps the educational level of government minions is such that the existence of negative numbers is once again suspect.... pre 16th century western thinking all over again.
Packing my bags and heading to Australia
A salute to the Aussie press for calling BS on their government fudged figures...something our CONgressional whores and presstituted media would never do, for fear of immediate suicidation.
No need to control the media when a nation has already confiscated firearms.
Please don't salute the ABC! Full of lefties, feminists, tree-huggers! If Labor was in power they be gloating over these fake employment numbers as much as the Murdoch lying press is now. The figures are total bullshit even so and the unemployment situation in my part of the country is becoming critical. 5.9%!!?? LIARS!
All we need is a Republican in the White House for the numbers to be accurately reported.
After 8 years of pure bullshit, I'd vote for Bozo the clown at this stage.
Vote for TheReplacement. TheReplacement will do away with the BLS and count on competition between private enterprises to provide competing reliable surveys that the USG for which the USG will not pay one red cent.
Also we will audit The Fed. Fort Knox is guarded by the US military. The US Military will report to TheReplacement in Chief. If the US military will not comply I will ask the Governors to call up the militias. One way or the other, we are going in and seeing what is there. If there is any there, there, we will take possession of said there. If it is missing we will certainly be too busy looking for it to take any kind of preventative action while the partisans lynch the bankers. Once the Fed is gone we'll go back to an actual federal currency that is not based on debt but rather another mechanism such as per capital (for physical circulation) and free markets (digital holdings).
Oh yes, I have seen the Kennedy movies. I for one realize I will die someday no matter what so the thought of being made a martyr that will be rememberd for all of history is just a way to mortal immortality. Bring it.
again BoR??!!!
Key difference: In AU the 'right' is currently governing, thus it it required that ABC (media funded by taxes, equivilant to our PBS) will attack all "good stats" as fraudulent. When Labor is in government, all is rainbows and unicorns.
We will experience the same thing in the US beginning 1/17, assuming there is a GOP president. Until then, we get the rainbow treatment.
Don't get me wrong. I'm sure the AU stats are as reliable as the US'. That is, not at all.
Well stated. I was trying to get the same message out above but you'd already done a better job of it. Thanks.
Must be the warm weather.
Macy's.
The agenda is in full flow......
http://beforeitsnews.com/conspiracy-theories/2015/11/666-is-upon-us-the-...
I simply don't listen to the CNBC puppets anymore. I turn the volume off and I only turn it on if Santelli is talking.
There is a complete lack of objective content. By that I mean- nobody questions the bullshit numbers spewed by the BLS. It's like state run television. They have their elite Gods, CEOs, and a complete host of always bullish investment bankers. It's so fucking predictable- there is really no point in listening to it. You already know what they are going to say.
I will tip my hat to them in terms of equal opportunity. They have some of everything- asian gals, black men, a part hispanic, ponytail men, chunky women, (Jackie DeAngelis is hot) a three name hipster, a Brit, and a partridge in a pear tree.
By far the greatest lie is the UK unemployment statistics.
Amazing how coordinated these bullshit economic stats really are - every country on the planet has been doing it and the MSM has been perpetuating it for years.
It is all easily orchestrated. The same owners of our central bank are the same as theirs. That's why the Fed dumped 16 trillion into worldwide banks during the 08 liquidity crisis and then tried to hide it. It's such an unbelievable piece of horseshit to think they just had 16 trillion laying around the basement to save for a rainy day. It's all one bank working with different fiat.
You'd have to be a complete idiot, like 99% of our population, to believe any of this. If you ask 20 people how money is created they cannot tell you. When you ask them what the U.S. uses for collateral on the treasuries they issue to finance our debt- they cannot tell you. These are highly educated people. Odd, how any mention of how the FED was created or works- escapes all classrooms.
Seasonal adjustments have always seen to be a sham to me.
First off, I don't recall ever hearing a seasonally-adjusted number that was less than the gross figure reported. It is always seasonally adjusted upwards-- which makes me wonder what season they are adjusting from as a baseline.
Second, the October jobs number (as an example) needs to be compared to the same number from years previous in order to gain some true picture of what is going on. Seasonally adjusting this number distorts the picture unless the seasonal adjustment ratio is the same this year as it was in previous years. We all know the answer to that one.
It's like living in some sort of red-white-and-blue alternate universe Soviet Union-- except that we still have guns and thank God and the Constitutional Convention for that. My own rule is a simple one-- I disbelieve any statistic that I cannot confirm with the evidence of my own lying eyes.
At least the media down under challenges the BS instead of shamelessly cheerleading like our esteemed reporters
Will the real Ozzie unemployment numbers please stand up?
Australian Number fixers are learning their trade from the crooks that cook the American Stats -- ALL markets are being manipulated along side PMs - -
Can't wait for all this to come back & bite - - - badly.